Without belaboring my views on bitcoin, a friend whose opinion I respect offered his opinion on bitcoin and the world’s first international bubble…
If only 2% of the world are in bitcoin, how many more will get in before this is over.
What percent of the population was in on the tulips. What percent on tech stocks?
Beauty is the bitcoin is accessible by anyone (through the Internet) and there are no goofy restrictions like on stock purchases (hard for a foreigner to purchases US equities directly).
This bubble can be much bigger.
As for bitcoin being a commodity instead of a crypto currency, just consider if you were a buyer would you use bitcoins to settle a debt? Why give up something whose value could double in days? Not likely. You would use “real” currency whose value is come “sedate.”